Get a in Ontario
with an Award-Winning Mortgage Broker
Rates updated Aug 2, 2025
Rates updated Aug 2, 2025
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- 1Find out how much you can borrow
- 2Calculate your monthly payment
- 3Get your personalized advice
Since 2015, more than 2,000 homeowners in Ontario have given us 5-star reviews.
360Lending is an award-winning mortgage brokerage helping homeowners across Ontario get better rates on home equity loans, HELOCs, and mortgage refinancing.
Financing Home Renovations
From $40,000 to $250,000
A home improvement loan helps Ontario homeowners fund repairs, upgrades, or major projects without breaking their existing mortgage. Whether you're planning kitchen remodelling, bathroom renovations, or exterior upgrades, we’ll help you explore the right types of home improvement financing. Our team guides you through the eligibility and application process and compares loan features and benefits to fit your goals.
FAQs about home renovation loans:
1
What do I need to qualify?
Eligibility for home renovation loans includes at least 20% home equity. With major banks, stronger credit and income may improve interest rates and costs, while private lenders have no income or credit requirements.
2
Typical home renovation loan rates?
Lenders decide based on your income, credit, and equity. As brokers, our job is to help you get the best offers. Most homeowners finance renovations with a second mortgage starting at 6.99%.
3
Why use home equity to renovate?
Equity-based options offer larger amounts and lower rates vs. other types of home improvement financing. Retailer plans are fast but limited. Unsecured loans don’t need collateral but cost more and are harder to qualify for.
4
Renovations with the best ROI?
Remodelling kitchens, bathrooms, and basements generally have the best ROI. Flooring + paint for smaller projects.
5
Are green upgrades worth it?
Green and energy-efficient renovations can boost property value and lower utility bills. They’re often eligible for rebates and have strong ROI when selling your home.
Paid contractors $53,000in renovation costs
Sold home for $40,000over the asking price
Kitchen & Bathroom Upgrades
Edna is 67 years old and has lived in her Ontario home for the past 18 years. With plans to move into a retirement community soon, a realtor friend suggested that some light renovations could significantly increase her sale price.
Edna's home was in a great neighborhood, but it needed a refresh. She wasn’t working and relied on her CPP, OAS, and a modest private pension, which made bank financing a challenge. That’s when she came to 360Lending to explore home improvement loans designed for retirees with equity.
How 360Lending helped Edna fix up her house
We walked Edna through the eligibility and application process, focusing on her home equity and sale timeline. Since she wanted to avoid refinancing, we recommended a second home improvement loan—a smart option for short-term funding without breaking her mortgage.
Edna got quotes from local contractors, which included kitchen remodelling, light bathroom renovations, new paint, landscaping, and minor repairs—totaling about $53,000. We matched her with a lender who offered competitive home improvement loan rates, flexible terms, and repayment options that worked with her plan to sell soon. We also shared budgeting and cost savings tips to help her stay within scope.
Results
Edna was approved for a $53,000 home renovation loan with a manageable monthly payment and no penalties for early repayment. The project was completed in under three months and included energy-efficient updates, giving her property a fresh, market-ready appeal. She sold her home for $40,000 over asking, paid off the loan, and had cash left to help with her move. Her story is one of many customer experiences and testimonials showing how loans for home improvement—when matched to the right project size and loan features—can create real financial upside.
Get an estimate of your monthly payment:
What you'll need to apply for a home renovation financing in Ontario, Canada
We recommend getting the following documents ready to ensure a seamless experience:
2 valid IDs (i.e. passport)
Direct deposit (or void cheque)
Home insurance
Mortgage statement
Property tax bill
360Lending empowers families with tools for better decisions and prioritizes client care for success.
9040 Leslie St, Unite 215
Richmond Hill, Ontario, L4B 3M4
Mon-Wed9am-8pm
Thurs-Fri9am-5pm
Sat-SunClosed
